Can I retire at age 56 with 8,600,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$710,180$703,854$697,682$691,658$685,776$658,827
2 years$351,574$345,026$338,681$332,528$326,560$299,739
3 years$232,055$225,479$219,149$213,054$207,183$181,335
4 years$172,307$165,751$159,484$153,493$147,765$123,086
5 years$136,467$129,951$123,766$117,898$112,328$88,882
6 years$112,582$106,114$100,022$94,284$88,882$66,683
7 years$95,528$89,115$83,118$77,516$72,285$51,325
8 years$82,743$76,388$70,491$65,026$59,967$40,227
9 years$72,804$66,509$60,714$55,388$50,501$31,950
10 years$64,858$58,625$52,932$47,745$43,029$25,632
11 years$58,361$52,190$46,600$41,552$37,007$20,722
12 years$52,951$46,843$41,357$36,447$32,069$16,855
13 years$48,376$42,332$36,949$32,177$27,965$13,775
14 years$44,459$38,479$33,199$28,563$24,514$11,301
15 years$41,066$35,151$29,974$25,473$21,584$9,300
16 years$38,101$32,251$27,176$22,809$19,076$7,673
17 years$35,488$29,702$24,729$20,493$16,914$6,343
18 years$33,167$27,446$22,575$18,469$15,039$5,252
19 years$31,093$25,436$20,666$16,688$13,405$4,355
20 years$29,229$23,637$18,966$15,114$11,973$3,616
21 years$27,544$22,017$17,445$13,717$10,715$3,004
22 years$26,015$20,552$16,078$12,472$9,604$2,498
23 years$24,621$19,222$14,846$11,359$8,621$2,079
24 years$23,344$18,009$13,730$10,360$7,749$1,731
25 years$22,172$16,901$12,716$9,461$6,973$1,441
26 years$21,092$15,884$11,794$8,651$6,281$1,201
27 years$20,093$14,949$10,952$7,918$5,663$1,001
28 years$19,168$14,086$10,181$7,255$5,110$834
29 years$18,307$13,289$9,474$6,653$4,614$696
30 years$17,506$12,550$8,825$6,106$4,169$580
31 years$16,758$11,864$8,227$5,607$3,769$484
32 years$16,058$11,225$7,676$5,153$3,409$404
33 years$15,401$10,631$7,167$4,739$3,086$337
34 years$14,785$10,076$6,697$4,360$2,794$281
35 years$14,205$9,556$6,261$4,014$2,530$235
36 years$13,659$9,070$5,857$3,697$2,293$196
37 years$13,143$8,615$5,482$3,406$2,078$163
38 years$12,656$8,187$5,134$3,139$1,884$136
39 years$12,195$7,785$4,810$2,895$1,708$114
40 years$11,758$7,407$4,508$2,670$1,549$95
41 years$11,343$7,051$4,227$2,463$1,406$79
42 years$10,949$6,715$3,965$2,273$1,276$66
43 years$10,575$6,398$3,721$2,099$1,158$55
44 years$10,218$6,099$3,493$1,938$1,051$46
45 years$9,878$5,816$3,279$1,790$954$38
46 years$9,554$5,548$3,080$1,653$866$32
47 years$9,245$5,294$2,894$1,527$786$27
48 years$8,950$5,054$2,719$1,411$714$22
49 years$8,667$4,826$2,556$1,304$649$19
50 years$8,397$4,610$2,403$1,205$589$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $8,600,000, adding $5,543 every year, while hoping to spend $35,052 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 39/33/28 Blend
55$8,600,000$8,600,000$8,600,000$8,600,000
56$9,482,918$9,027,118$8,893,818$9,773,805
57$10,412,880$9,432,151$9,154,465$10,391,931
58$11,436,524$9,855,857$9,422,670$11,056,237
59$12,563,368$10,299,112$9,698,648$11,773,915
60$13,803,900$10,762,837$9,982,621$12,549,856
61$15,169,677$11,247,995$10,274,818$13,389,427
62$16,673,433$11,755,596$10,575,473$14,298,518
63$18,329,200$12,286,697$10,884,829$15,283,596
64$20,152,441$12,842,408$11,203,133$16,351,762
65$22,160,192$13,423,888$11,530,640$17,510,814
66$24,371,228$14,032,356$11,867,614$18,769,318
67$26,806,238$14,669,085$12,214,323$20,136,685
68$29,488,016$15,335,412$12,571,044$21,623,255
69$32,441,683$16,032,737$12,938,064$23,240,391
70$35,694,919$16,762,526$13,315,674$25,000,582
71$39,278,228$17,526,316$13,704,176$26,917,557
72$43,225,220$18,325,719$14,103,879$29,006,409
73$47,572,935$19,162,422$14,515,101$31,283,734
74$52,362,188$20,038,193$14,938,170$33,767,778
75$57,637,953$20,954,887$15,373,421$36,478,612
76$63,449,794$21,914,446$15,821,200$39,438,307
77$69,852,325$22,918,906$16,281,862$42,671,145
78$76,905,729$23,970,399$16,755,772$46,203,836
79$84,676,327$25,071,163$17,243,304$50,065,764
80$93,237,203$26,223,539$17,744,844$54,289,263
81$102,668,889$27,429,985$18,260,789$58,909,909
82$113,060,135$28,693,073$18,791,545$63,966,854
83$124,508,737$30,015,502$19,337,530$69,503,183
84$137,122,466$31,400,099$19,899,174$75,566,317
85$151,020,080$32,849,827$20,476,919$82,208,452
86$166,332,452$34,367,792$21,071,219$89,487,038
87$183,203,797$35,957,249$21,682,540$97,465,320
88$201,793,041$37,621,611$22,311,362$106,212,921
89$222,275,315$39,364,454$22,958,177$115,806,488
90$244,843,612$41,189,527$23,623,491$126,330,412
91$269,710,606$43,100,759$24,307,823$137,877,606
92$297,110,661$45,102,269$25,011,708$150,550,375
93$327,302,043$47,198,375$25,735,695$164,461,371
94$360,569,358$49,393,602$26,480,348$179,734,641
95$397,226,239$51,692,695$27,246,245$196,506,789
96$437,618,303$54,100,625$28,033,983$214,928,249
97$482,126,420$56,622,606$28,844,171$235,164,691
98$531,170,304$59,264,102$29,677,439$257,398,574
99$585,212,473$62,030,841$30,534,432$281,830,850
100$644,762,622$64,928,829$31,415,812$308,682,846